Philippine Banknotes: 1981 10 Piso Ferdinand Marcos Overprint
On June 16, 1981, a presidential election was held. President Marcos won the election on a landslide victory with an 80% margin, making it the most lopsided presidential election ever in the country.
Marcos was sworn into power for the third time on June 30, 1981 at the Quirino Grandstand. In attendance was then U.S. Vice President George H.W. Bush.
To commemorate his third inauguration, Bangko Sentral ng Pilipinas was commissioned to release a commemorative overprint on the 10 Peso banknote of the “Ang Bagong Lipunan” series notes.
1981 10 PISO Marcos Overprint
“PANGULO NG PILIPINAS”
(President of the Philippines)
Bust of President Marcos
“FERDINAND E. MARCOS”
“HUNYO 30, 1981”
(June 30, 1981)
The opposition, UNIDO, boycotted the election. Apparently, the election would not be legitimate without a candidate from the opposition. Marcos allegedly coerced the Nacionalista Party to find a candidate to oppose him. Alejo Santos, then Bulacan Governor, was chosen to be Marcos’ opponent. With this, Marcos won overwhelmingly.
Benigno “Ninoy” Aquino Jr., who was 48 years old at the time and in exile in Massachusetts, was not allowed to participate since only people over 50 years of age were allowed to be a presidential candidate.
I got this banknote from an antique shop. Not a place where one would expect to find banknotes. It wasn’t cheap, but it was worth it.